SPY vs STEN
State Street SPDR S&P 500 ETF Trust vs iShares Large Cap 10% Target Buffer Sep ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | STEN | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.50% | |
| AUM | $821.1B | $40M | |
| Dividend Yield | 1.01% | 0.17% | |
| Holdings | 505 | 8 | |
| YTD Return | +13.47% | +11.23% | |
| 1Y Return | +20.57% | +13.22% | |
| 3Y Return (annualized) | +21.83% | - | |
| 5Y Return (annualized) | +12.88% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -6.2% | |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Sep 30, 2025 |
SPY vs STEN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and iShares Large Cap 10% Target Buffer Sep ETF (STEN) is a ETF from iShares by BlackRock (US). Over the past year SPY returned +20.57% while STEN returned +13.22%. Year to date, SPY is up 13.47% versus a gain of 11.23% for STEN.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -6.2% for STEN. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while STEN charges 0.50%. On a $10,000 position that is $9 vs $50 annually, a gap of $41 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.17% for STEN.
Holdings Overlap
SPY and STEN share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or STEN?
SPY has an expense ratio of 0.09% while STEN charges 0.50%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, SPY or STEN?
Over the past year SPY returned +20.57% vs +13.22% for STEN, so SPY leads on 1-year performance. Past performance does not guarantee future results.
What is the holdings overlap between SPY and STEN?
SPY and STEN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SPY or STEN?
SPY yields 1.01% while STEN yields 0.17%, so SPY currently pays the higher dividend yield.
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